Per a report by thebftonline.com, a recurrent issue recognized was how to cut the payments without jeopardizing future access to markets.

One of them requested that his identity should be protected because of fears of victimization of his country if he is too vocal about a waiver in public.

Benin’s Finance Minister, Romuald Wadagni, stated that the risk of being shut out of debt markets may outweigh the benefits of a debt-service suspension.

The information availableshows that a group of the world’s largest economies has agreed to suspend about $20 billion in debt servicing payments for 73 nations and the IMF has also granted waivers on loans to 25.

Since the coronavirus broke out in Africa, the IMF has issued $10 billion in emergency lending to African countries.

The continent’s economy is projected to contract by at least 1.25% this year which is the worst reading on record.

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